Larger crowds are paving the way for new developments, and in turn, new developments are attracting bigger crowds every year. “The momentum is real,” Dick Zigun, the organizer of the Mermaid Parade, said. “Coney’s hit a critical mass.” Restaurants are on their way too: the Dumbo pizzeria Grimaldi’s opened a Coney Island location last month and the Prospect Heights diner Tom’s Restaurant recently signed an eight-year lease on the boardwalk.

Sitt wants to bring Las Vegas-style casinos to the area if the state legalizes gambling in the near future, but he is also considering massive residential towers and hotels, according to Crain’s. New York City Economic Development president Seth Pinsky has promised that the city would begin upgrades to the neighborhood to help accommodate new developments by the end of this year. [Crain’s]